An Ad Hoc Committee to Establish All Facts and Circumstances Regarding the Activities of Nexo, Nexo Capital and Connected Persons met on Friday without adopting a decision. Representatives of the Bulgarian National Bank and the Finance Ministry attending the meeting pointed out that Nexo's activities are not subject to regulation in Bulgaria and the EU. The Finance Ministry said that acting on the prosecution service's order, the National Revenue Agency was probing the company which owns Nexo. If violations are found, the probe will turn into an audit, the Ministry said.
The Ad Hoc Committee is looking into conduct of potential illegal activities, including links with persons and structures financing terrorism and organized crime, as well as the financing of political parties and other legal entities in Bulgaria by Nexo and Nexo Capital.
In a press release received by BTA on Friday, Nexo said they "welcomed all legal mechanisms used in clarifying the facts and circumstances surrounding the company's activities". At the same time, the company expressed a hope that the actions of the Bulgarian state authorities and institutions during the January 12 raids would be clarified, rejecting all allegations that it was engaged in potentially illegal activity.
It was announced earlier that Nexo agreed to pay a total of USD 45 million in penalties to settle charges from the US Securities and Exchange Commission for failing to register the offer and sale of its retail crypto asset lending product, the Earn Interest Product (EIP).
The settlement closes all multi-year-long inquiries into Nexo, the company said, adding that the US federal regulators do not contend that Nexo engaged in any fraud, or misleading business practices, or that any Nexo customers have been harmed or misled about Nexo's financial health.
This puts an end to all administrative actions filed against the company by eight US state regulators, Nexo said.
/NZ/
news.modal.text
Nothing available